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People & Business :: Earnings/Finance

Kraton reports sales drop on low raw materials cost

8:44 AM MDT | August 1, 2013 | Lindsay Frost

Kraton Performance Polymers reports second-quarter net income, including the net of tax charges and restructuring costs, of $3.8 million—down 69%  year-on-year (YOY). Earnings per share of 15 cts/share fell below analyst consensus of 25 cts/share, according to Thomson Reuters (New York). Sales for the quarter were $334.5 million—an 11% drop YOY due to lower average raw materials costs and the impact of currency exchange rates, the company says. "Our second-quarter 2013 sales volume of 77.5 kilotons was essentially unchanged in...

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